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“HNG ropes in new investor to pare debt: Debt-ridden Hindusthan National Glass & Industries (HNG), the country’s largest container glass maker, has roped in a new investor, Lotus One Investment Pte of Singapore,” reported Hindu Business Line.

Lotus One is a Singapore-based SPV, making a strategic investment to reduce HNG’s debt, which would see it hold more than 30% of HNG’s share capital after conversion of the compulsorily convertible preference shares.

KT Advisors advised Singapore’s Lotus One Investment Pte Ltd led by a team of managing partnerKalpataru Tripathy and principal associateIshita Bhardwaj.